Wealthify refusing cashback

TheBanker

I invested £50 in April 2023 using an MSE offer and was expecting £50 cashback.

I've just had £100 credited to my bank account - so double what I expected.

My Wealthify Pension currently has a balance of £3,000 - I stuck some money in at the end of March to protect it from the taxman, as I'd missed the cut-off date for making a contribution to my workplace pension. So it looks like they've paid cashback based on contributions made during the year rather than the initial deposit.

Not complaining - I was glad I had the Wealthify pension available to make the 2023/4 contribution.

Now to move it to a more compelling proposition!

gizz_10

I also did the £50 MSE offer in April 2023 and on 1st May 2024 £50 was credited to my Wealthify account stating MSE cashback offer - which they have also now invested along with my original £50.

_Anna_

Hello to everyone,
I opened a Wealthify account via an MSE link in February 2023, put 50 GBP but have not received any cashback so far. Several people wrote here that they had encountered a similar problem. Have you managed to get it sorted? Thank you.

gakgakgak

Hello everyone, I am the OP.  Sorry, I should have updated this.  I raised a complaint which took 3 weeks to be completed.  The outcome was that Wealthify was insistent that I signed up under a different offer (no fees for one year).  

However, thankfully as a gesture of goodwill they paid me the £50 regardless. That took a few weeks to come through (direct payment to my bank account), then I closed my account with them. 

So, no harm done in the end but it does seem a bit weird they can have multiple sign up offers with no communication at the outset which one they have allocated you to and no way to evidence it later on. 

_Anna_

gakgakgak said:

Hello everyone, I am the OP.  Sorry, I should have updated this.  I raised a complaint which took 3 weeks to be completed.  The outcome was that Wealthify was insistent that I signed up under a different offer (no fees for one year).  

However, thankfully as a gesture of goodwill they paid me the £50 regardless. That took a few weeks to come through (direct payment to my bank account), then I closed my account with them. 

So, no harm done in the end but it does seem a bit weird they can have multiple sign up offers with no communication at the outset which one they have allocated you to and no way to evidence it later on. 

Dear OP, thanks for your update. I am in a similar situation and will raise a complaint shortly.

clivep

gakgakgak said:

So, no harm done in the end but it does seem a bit weird they can have multiple sign up offers with no communication at the outset which one they have allocated you to and no way to evidence it later on. 

When I took advantage of the MSE £50 offer in October 2022 the confirmation email said...

Great news! Your Wealthify Investment Plan is all set up and ready to receive your money.
Here's a reminder of your current offer:
MSE £50 Cashback
£50 cashback for £50 investment over 12 months
Terms and conditions apply

Barkin

Hmmm... I signed up in July '23 using the MSE £75/£75 link - or so I thought - but got no such confirmation in my "welcome" email 🤔

boingy

I don't remember them saying anything in an email to me but on my main dashboard page (viewed in a web browser)  at the bottom right it says:

CASHBACK OFFERS
MSE June 2023
Between £75-£1000 Cashback when you open a new Plan
Cashback offer active on your account now.
Qualify by 14/06/2024

That qualify date is the 1 year anniversary of me funding the account with £75 so that all looks good so far. Maybe I should screenshot it  ;p

Barkin

Hmm, nothing like that on mine... 

Barkin

boingy said:

I don't remember them saying anything in an email to me but on my main dashboard page (viewed in a web browser)  at the bottom right it says:

CASHBACK OFFERS
MSE June 2023
Between £75-£1000 Cashback when you open a new Plan
Cashback offer active on your account now.
Qualify by 14/06/2024

That qualify date is the 1 year anniversary of me funding the account with £75 so that all looks good so far. Maybe I should screenshot it  ;p

FWIW I've had it confirmed by SM that despite no mention in my welcome email, and nothing showing on my dashboard, I did sign up under the MSE cashback offer and it'll be paid within 30 days of the anniversary of my initial deposit.